The New York Federal Reserve Bank’s latest quarterly report on Household Debt and Credit showed that new delinquencies on mortgages and auto loans rose slightly last quarter.
The NYFRB reported:
Aggregate delinquency rates decreased slightly. As of the end of June, 4.7% of outstanding debt was in some stage of delinquency, 0.1 percentage points down from the previous quarter. Transition into early delinquency upticked slightly for auto loans and mortgages, but was largely steady for credit cards and other debts. Delinquency transitions improved slightly for home equity lines of credit. Transition rates into serious delinquency largely unchanged.
About 137,000 consumers had a bankruptcy notation added to their credit reports in 2026Q2, a small increase from the previous quarter. The percentage of consumers with a third-party collection account on their credit report was largely steady at 4.9%.
The rising delinquencies on auto and home loans aren’t an emergency yet, but the trend could be concerning. Auto loans had been showing improvement, but the trend is now turning. New mortgage delinquencies are the highest they’ve been since 2015, and the decline in delinquencies after the Financial Crisis.
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